• Wednesday, September 28, 2022

NEWS

Pakistan seeks bilateral cooperation from US on trade and business 

iStock illustration

By: Swati Rana

PAKISTAN is eyeing a “paradigm shift” in its relationship with the US, according to a local media report.

On Sunday (23), Pakistan’s newly appointed national security adviser, Dr Moeed Yusuf, met his US counterpart, Jake Sullivan, in Geneva to present the ‘Pakistani plan’, which will see a shift away from only security and defence, The Express Tribune reported.

In March prime minister Imran Khan formed an apex committee that was tasked with formulating a new strategy on ties with the US under the administration of president Joe Biden. The 14-member group focused seeking cooperation in the fields of economy, trade, business, energy, technology and climate change.

Several proposals have subsequently been made by different ministries and departments to expand bilateral ties, the paper said.

The Board of Investment (BoI) proposed attracting more US foreign direct investment in Pakistan, especially through technology firms while the Ministry of Commerce suggested that an American-Pakistan Economic Zone could be set up near Karachi port to allow reprocessing at concessional rates.

It has suggested engagement through the Trade and Investment Framework (TIFA) Ministerial Council and Business Opportunities Conference. The US-Pakistan TIFA is the primary mechanism for both countries to discuss trade and investment issues and focus on ways to strengthen ties.

The Ministry of Commerce has apparently sought early finalisation of proposed legislation on Reconstruction Opportunity Zones, promised by the Junior Bush administration in return for Pakistan’s support to the US war in Afghanistan.

Eastern Eye

Related Stories

Eastern Eye

Videos

Mrunal Thakur on Dhamaka, experience of working with Kartik Aaryan,…
Nushrratt Bharuccha on Chhorii, pressure of comparison with Lapachhapi, upcoming…
Abhimanyu Dassani on Meenakshi Sundareshwar, how his mom Bhagyashree reacted…